https://www.miningweekly.com

Panoramic to launch share buy-back

15th December 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Nickel miner Panoramic Resources on Monday announced an on-market share buy-back as part of its efforts to increase share value.

The ASX-listed company told shareholders that it would buy-back some 15.96-million shares over the next 12 months, and would cancel these shares once acquired.

The Panoramic board believed that the company’s shares were trading at a level which ‘significantly undervalued’ the company’s assets, and the proposed buy-back was aimed at consolidating Panoramic’s capital base.

The company’s shares were trading at around 37c a share on Monday.

The nickel miner in November announced that it would start the development of the Jury-Metcalfe decline, at its Lanfranchi operation, in Western Australia, following an amendment of the existing toll treatment and concentrate purchase agreement with mining major BHP Billiton.

The company started the six- to nine-month predevelopment activities at the Jury-Metcalfe resource, developing a decline that would allow Panoramic access to the orebody and exploration drill platforms to continue further exploration of the area.

The decision to start production from the Jury-Metcalfe orebody would be dependent on the prevailing and forecast nickel prices during the June 2015 quarter.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ZF Aftermarket
ZF Aftermarket

ZF Aftermarket is the after-sales division of the world-renowned German ZF group, a global leader in mobility technology.

VISIT SHOWROOM 
ABB Electrification
ABB Electrification

Electrifying the world in a safe, smart, and sustainable way, ABB Electrification is a global technology leader in electrical distribution and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.042 0.994s - 110pq - 2rq
Subscribe Now